Out of 20 suitors, private equity giant Blackstone has emerged as the only entity to make an all-cash offer to buy out Punjab National Bank and PE firm Carlyle from PNB Housing Finance Ltd, The Economic Times reported, citing two people aware of the development.

Going by a BSE filing, promoters Punjab National Bank and Carlyle are looking to sell minimum combined stake of 51%. According to the report, the promoters want to sell their entire combined stake, which is close to 66%, to an investor willing to fork out close to ₹15,000 crore. Punjab National Bank holds 32.79% stake in PNB Housing Finance and Carlyle 32.36%.

In another development, philanthropic foundation Central Square Foundation, hedge fund Steadview Capital, the Bill and Melinda Gates Foundation, and Google India have together committed $40 million for a fund to improve early-stage education in India, Mint reported.

The fund will primarily help students from classes one to three to improve their reading and mathematics skills, the report said.

Ashish Dhawan is the founder of Central Square Foundation, which aims to provide school education for all children in India. He had stepped down as senior managing director of ChrysCapital in 2012 and has made some angel investments since then.